DA Agravis Machinery Holding, a part of the Danish Agro group, has completed the acquisition of the remaining stake in Konekesko Oy’s Baltic subsidiaries.
Danish Agro recently met the conditions set by the European Commission for the approval of the divestment of some of its business operations in Estonia.
Following this, Danish Agro was able to acquire the remaining stake in Konekesko’s Baltic subsidiaries.
An agreement over the acquisition was reached between the two companies in July 2018.
In addition, the parties also agreed on the sale of Konekesko’s agricultural machinery trade operations in Finland.
Konekesko Oy’s parent company Kesko has stated that with the completion of this divestment, it will no longer be engaging in the machinery trade.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Elizabeth Schroeder. Click subscribe to sign up to ESM: The European Supermarket Magazine.